Yang K. Lu (PDF VERSION)
Department of Economics
Hong Kong University of Science and Technology
Clear Water Bay, Kowloon
Hong Kong
Email: yanglu@ust.hk
Tel: +852 2358 7619
Office: 6059 LSK Bldg
Web site: http://yanglu.people.ust.hk
Current
Position
Associate Professor (with
tenure), HKUST July
2018 – Present
Assistant Professor,
HKUST Sep
2010 – June 2018
Past
Position
Postdoctoral Scholar, European
University Institute
Sep
2009 – Aug 2010
Education
Ph.D., Economics, Boston
University, Boston MA, May 2009
Dissertation Title:
Macroeconomics, Econometrics and Game
Theory of Regime Changes
Committee:
Robert G. King, Pierre Perron, Barton Lipman and Christophe Chamley
B.A., Economics (with distinction),
Fields of Interest
Information and Learning in Macroeconomics and Finance,
Empirical Macroeconomics and Finance, Time Series Econometrics
Publications in refereed journals or conference
Proceedings
1.
Haq, Ehsan-Ul, Yang
K. Lu and Pan Hui. “It’s all Relative! A Method to Counter
Human Bias in Crowdsourced Stance Detection of News Articles” (2022) In
Proceedings of the 25th ACM Conference on Computer-Supported
Cooperative Work and Social Computing (CSCW
2022)
2.
King, Robert G.
and Yang K. Lu. “Credibility
and Explicit Inflation Targeting” (2022) Essays in Honor of Marvin Goodfriend: Economist and Central
Banker, FRB Richmond
3. Edmond, Chris and Yang K. Lu. “Creating
Confusion” (2021) Journal of Economic Theory, Vol 191,
105145
4. Che, Jiahua,
Kim-Sau Chung and Yang K. Lu.
“Decentralization and Political Career Concerns” (2017) Journal
of Public Economics, Vol 145,
201-210
5.
Lu, Yang K., Robert G. King
and Ernesto Pasten. “Optimal Reputation Building in the New Keynesian
Model” (2016) Journal of Monetary Economics, Vol 84, 233-249
6. Chen, Heng, Yang K. Lu and Wing Suen. “The Power of Whispers: A Theory
of Rumor, Communication and Revolution” (2016) International Economic Review, Vol
57, Issue 1, 89-116
7. Lu, Yang K. “Optimal Policy with Credibility
Concerns” (2013) Journal of Economic Theory, Vol
148, Issue 5, 2007-2032
8.
King, Robert G., Yang
K. Lu and Ernesto Pasten. “Managing Expectations” (2008) Journal
of Money, Credit and Banking, Vol
40, Issue 8, 1625-1666
9.
Lu, Yang K. and Pierre Perron.
“Modeling and Forecasting Stock Return Volatility using a Random Level
Shift Model” (2009) Journal of Empirical Finance, Vol. 17, Issue 1, 138-156
Other publications
“Communicating
Accountability”, Government Gazette,
April/May 2010, Centre for Parliamentary Studies,
“What Causes
the Quick Development of Private Corporations in China: An Incentive Mechanism
for Entrepreneur” (in Chinese) (2003) Contemporary
Finance & Economics, Special Issue: 294-296.
Working Papers
“Evolving Reputation for Commitment:
Understanding Inflation and Inflation Expectations” (with Robert G. King)
May 2025
“AI and Human Capital Accumulation: Aggregate
and Distributional Implications” (with Eunseong Ma) Jan 2025
“The Signaling Effects of Sovereign
Borrowing” (with Bowen Qu) Feb 2023
“Learning,
Rare Disasters and Asset Prices” (with Michael Siemer) Jan 2016
“Coordinating
Expectations and the Information Role of Policy” (with Ernesto Pasten)
June 2009.
Presentations (* Scheduled)
2025: First Asian Conference on Expectations in
Macroeconomics (Macau), BSE Summer Forum* (Barcelona), Workshop on AI and the
Macroeconomy in honor of Albert Marcet* (Barcelona)
2024: European University Institute, CREi-UPF, Queen
Mary University of London, EMES (Rotterdam), 7th HKUST and Jinan Joint Macro
Workshop
2023: Hong Kong Baptist University, Rochester, OSU, BU, UPenn,
FRB-Philadelphia, UVa, Southern Methodist University, City University of Hong
Kong, AMES (Beijing), AMES (Singapore), the 31st East Asian Seminar on
Economics(Tokyo), 11th Shanghai Macroeconomics
Workshop
2022: AMES (Shenzhen), AMES (Tokyo), 5th HKUST and Jinan Joint
Macro Workshop, SaMMF Workshop on Inflation
(Virtual), Bank of Chile (Virtual), Chinese University of Hong Kong
2021: VEAMS, 4th HKUST and Jinan Joint Macro Workshop, HKU
2020: Econometrics
Society World Congress, SHUFE
2019: AMES
(Xiamen), 2nd HKUST and Jinan Joint Macro Workshop, CICM (Shenzhen),
LAEF conference on Credibility (UC Santa Barbara)
2018: 1st
HKUST and Jinan Joint Macro Workshop, Guanghua School of Management at Peking
University, University of Melbourne, HKUST Macro Workshop, AFR Summer Institute
of Economics and Finance, Shanghai Macro Workshop
2017: National
University of Singapore, Singapore Management University, Nanyang Technological
University, CUHK(SZ), Shanghai Forum, AMES(Hong Kong), HKUST Macro Workshop,
Shanghai Macro Workshop
“Decentralization and Political Career Concerns”
2015:
Sogang University (Seoul)
2014: NTU
(Singapore), Workshop on China Studies at HKU (Hong Kong)
“The
Power of Whispers: A Theory of Rumor, Communication and Revolution”:
2014: CUHK (Hong
Kong), IAE/UAB (Barcelona)
2013: Fed-Chicago,
Peking University HSBC Business School (Shenzhen)
2012: Toulouse
School of Economics, European University Institute
“Optimal Monetary Policy with Imperfect
Credibility”
2013: Midwest Macro
Meeting (UIUC), SED (Seoul), Tsinghua Workshop in Macroeconomics (Beijing)
2012: 9th
Journées of the Foundation (Bank of France, Paris)
2011: Fudan
University (Shanghai), Max Weber Lustrum Conference (Florence), 2nd
Shanghai Macroeconomic Workshop
“Learning and Asset Prices in a
Rare Disaster Model”:
2012: Guanghua
School of Management, Peking University.
2011: Shanghai
University of Finance and Economics, Midwest Macro Meeting (Nashville), CDMA
Conference (St. Andrews, UK), Economic Dynamics Workshop (Shanghai)
2010: Max Weber
June Conference (Florence)
“Credibility Concerns
in Optimal Policy Design”
2010: LSE public lecture, Toulouse
School of Economics, LUISS, Midwest Macro Meeting,
2009: UC-Santa
Cruz, FRBs(Richmond, Kansas City, Philadelphia), UChicago-Booth,
City U of HK, Chinese U of HK, HKU, HKUST,
EUI
2008: BU-BC Green Line Macro Meeting
“Managing Expectations”:
2008 SED (
“Coordinating Expectations and the Information
Role of Policy”:
2010 SED (
Conferences
JME 2008 Conference
on “Monetary Policy under Imperfect Information”, Gerzensee
Switzerland, 2008
Conference in honor
of Ernst Baltensperger, Bern Switzerland, 2007
2nd
Lindau Meeting with Nobel Laureates in Economic Science, Lindau Germany, 2006
Teaching Experience
Instructor,
Macroeconomic Theory I, HKUST
Instructor,
Managerial Macro, HKUST
Instructor,
Introductory Macro, HKUST
Instructor,
Economics Ph.D. Math Camp,
other Professional Experience
Invited Discussant
for “Scarcity of Safe Assets,
Inflation, and the Policy Trap” by David Andolfatto and Stephen
Williamson, Monetary Policy in a Global Setting: China and the United States,
Tsinghua University, 2015
Co-organizer:
Conference on “The 2007-2010 Financial and Economic Crisis: Causes,
Consequences, and Policy Responses,” Max Weber Programme, EUI,
Invited Discussant
for “The Stability of Macroeconomic
Systems with Bayesian Learners,” by James Bullard and Jacek Suda,
Banque de France Seminar Series, 2009
Referee Experience
American Economic Review, Journal of Political
Economy, Journal of Monetary Economics, Journal of Economic Theory,
AEJ-Economic Policy, Scandinavian Journal of Economics, Canadian Journal of
Economics, International Journal of Central Banking, Economics
Letters, B.E. Journal of Economic Analysis and Policy, Journal of
Macroeconomics, Annals of Finance, Journal of
Banking and Finance, Journal of Empirical Finance, International Review of
Economics and Finance, China Economic Review, Bulletin of Economic Research
Fellowships
Hong
Kong RGC General Research Fund # 16503624, 2024-2026
HKUST VPRDO 30 for 30 Research
Initiative Scheme, 2023-2025
Hong
Kong RGC General Research Fund # 16502022, 2022-2024
Hong Kong RGC General Research
Fund # 16501419, 2019-2021
Hong Kong RGC General Research
Fund # 16504317, 2017-2019
Hong Kong RGC General Research
Fund # 742112, 2012-2014
Hong Kong RGC General Research
Fund # 643811, 2011-2013
Research Grant, Foundation
Banque de France, 2010-2011
Max Weber Fellowship, European
University Institute, Florence, Italy, 2009-2010
Dean’s Fellowship,
Boston University, 2004
First-rate People’s
Scholarship, Fudan University, 2001-2004
Excellent Graduate of
Shanghai, 2004
Languages
Fluent in English
and Native in Chinese
Computer Skills: MATLAB, GAUSS, R
References: Available upon request